I was underwhelmed. Lots of song and dance as usual.
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Agree with last post. Only ones been rewarded is higher management. Not answering questions about remuneration in line with inflation. In fact not allowing some office staff to work 2 day a week flex@work ( when they proved no issues working remotely for 2 years) simply because higher management have made this directive in conflict with what hr stated over last 18 months.sums up what they think of their employees and lack of trust.
"I would recommend sticking it out as many of us have and you will be rewarded."
We should know by now that wont happen for the vast majority of us. They cant even be bothered to keep up with inflation
Speaking from experience, once the talk is all about EBITDA you better be prepared. Get out and get happy.
(Don’t worry the C-team and SVP’s will land on easy street)
"Start brushing off those resumes! It’s all downhill from here. Probably going to sell off as much as they can is my bet."
In all fairness, people have been saying this for 3 years since the purchase of Arris and taking on the huge debt burden, yet the company is kicking strong. I think management has shown incredible resilience and replacing Eddie with Chuck was a smart move by Carlyle and the board, although I will admit the loss of Pease was big. The stock is back up again, orders are pouring in, supply chain issues are easing, and I see nothing but things looking up. The FCF should be more than enough to service the debt, even with the upcoming notes becoming due. I would recommend sticking it out as many of us have and you will be rewarded.
Start brushing off those resumes! It’s all downhill from here. Probably going to sell off as much as they can is my bet.
@1cpm+1h9jmKWq so one got to ask, what is behind the recent insider stock purchases?
Designed to positively impact the company SP, or does management expect a transformational event which will have a positive impact on Comm's SP, like finally finding a buyer for HN?
The financial future of the company looks dire, and we would not expect management to openly admit that in a townhall. However, I heard nothing which convinced me that we have James T. Kirk in the captain's chair. Instead, I left that call feeling that we are all passengers on HMS Titanic with the captain busily rearranging the deck chairs!
I have finally decided to seriously start looking for a job outside Commscope. This company is going to die in 2 or 3 years. In between now and bankruptcy, it will keep laying off people every quarter. There is no more hope. These id--ts borrowed a lot of money, bought Arris, and ran it in the ground.
macro tailwinds my a-s..
It isn't $1B in cash they have $1.03B of available funds. It's $1B in the Asset Based Lending equity line which is borrowing more, and $30M in cash as I understand it. Agreed with everything else, cash flows are too small to even begin paying it down. We've paid off $1B in the past 3 years with somewhat good cash flows. 3 years from now we will need to have dealt with another $5.8B.
Looks like the company is in trouble. Nearly $10 billion in debt and barely $1 billion in cash. Free cash flow is too small to pay off the debt. The CFO talked about refinancing the debt but now interest rates are rising and capital is becoming harder to raise. Borrowing money to buy Arris was clearly a big mistake.
I felt same old..talking about the financials but not addressing employees day to day concerns. Only a few of the q+ a answered.. felt the one on rising inflation was totally side stepped. And several others never answered.understand time constraints but in past ,those questions not answered on town hall would be followed up... no indication whatsoever that they will ever be addressed. Undercurrent is poor morale and it's constantly been ignored
I don't even care anymore. It's all the same bu-----t each time. I just signed in and went out to mow my lawn.